“JEE nee”
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(sometimes expressed as a gini ratio or a normalized gini index)
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(/dʒini/ jee-nee)
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*the gini co-efficient is a measure of ‘statistical dispersion’ intended to represent the [‘income’ / ‘wealth distribution’] of a nation’s residents, and is the most commonly used measure of ‘in-equality’*
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(it was developed by the Italian statistician and sociologist ‘Corrado Gini’ and published in his 1912 paper Variability and Mutability (Italian: Variabilità e mutabilità))
(the ‘Gini coefficient’ measures the inequality among values of a ‘frequency distribution’ (for example, ‘levels of income’))
(a ‘Gini coefficient’ of ‘zero’ expresses ‘perfect equality’, where all values are the same (for example, where everyone has the same ‘income’))
(a ‘Gini coefficient’ of 1 (or 100%) expresses maximal inequality among values (e.g., for a large number of people, where only one person has all the income or consumption, and all others have none, the ‘Gini coefficient’ will be very nearly one))
(however, a value greater than 1 may occur if some persons represent negative contribution to the total (for example, having ‘negative income’ or ‘wealth’))
(for larger groups, values close to or above 1 are very unlikely in practice)
(given the normalization of both the cumulative population and the cumulative share of income used to calculate the ‘Gini coefficient’, the measure is not overly sensitive to the specifics of the income distribution, but rather only on how incomes vary relative to the other members of a population)
(the exception to this is in the redistribution of wealth resulting in a minimum income for all people)
(when the population is sorted, if their income distribution were to approximate a well known function, then some representative values could be calculated)
(the ‘Gini coefficient’ was proposed by ‘Gini’ as a measure of inequality of income or wealth)
(for OECD countries, in the late 20th century, considering the ‘effect’ of ‘taxes’ and ‘transfer payments’, the income ‘Gini coefficient’ ranged between 0.24 and 0.49, with ‘Slovenia’ the lowest and ‘Chile’ the highest)
(African countries had the highest pre-tax ‘Gini coefficients’ in 2008–2009, with ‘South Africa’ the world’s highest, variously estimated to be 0.63 to 0.7, although this figure drops to 0.52 after social assistance is taken into account, and drops again to 0.47 after taxation)
(the global income ‘Gini coefficient’ in 2005 has been estimated to be between 0.61 and 0.68 by various sources)
(there are some issues in interpreting a ‘Gini coefficient’)
(the same value may result from many different ‘distribution curves’)
(the demographic structure should be taken into account)
(countries with an aging population (or with a ‘baby boom’) experience an increasing pre-tax ‘gini coefficient’ even if ‘real income distribution’ for working adults remains constant)
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(scholars have devised over a dozen variants of the ‘gini co-efficient’)
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